CEGEDIM Announces Acquisition of Target Software in the United-States
CEGEDIM, the European leader in CRM (Customer Relationship Management) solutions for the healthcare industry, announced today that it has acquired Target Software, Inc. in the United States.
Target Software ( www.targetsoftware.com ) licenses its modern suite of CRM, sales force automation, and drug sample management applications known as “Target SFA” to many US pharmaceutical companies. The Target SFA suite leverages the latest MICROSOFT(R) architectures and development tools including .NET and Windows Mobile(R). “Target Mobile”, the company’s mobile sales software, is designed specifically for modern mobile platforms including Pocket PC’s, Tablets and wireless PDA phones.
Target Software is the rising star among the pharmaceutical CRM providers in the US. In addition to its many direct pharmaceutical company licensees, Target Software is the clear choice among leading contract sales organizations (CSO’s) in the United States, with thousands of pharmaceutical sales representatives successfully deployed on its Target Mobile software. Target Software is the only company in the CRM sector which has enjoyed annual organic growth of more than 50% over the past three years, with impressive market share gains. Turnover in 2005 will be more than 10 million US dollars.
The combination of CEGEDIM and Target Software is a decisive new milestone in the realization of CEGEDIM’s ambition to become a global player in the field of CRM software and services dedicated to the worldwide healthcare industry.
SG Americas Securities LLC acted as financial advisor to CEGEDIM for this transaction.
About CEGEDIM:
CEGEDIM is an international company with 36 years’ experience supplying CRM and IT services to pharmaceutical companies and healthcare professionals. CEGEDIM’s offerings consist of recurring services enhanced by CEGEDIM’s proprietary databases. The group is recognized worldwide for its expertise in using advanced technologies like database management, IT systems and networks to collect the targeted and complex data vital to its clients’ operations. CEGEDIM employs 4,200 people operates in 58 countries and generated turnover of EUR 428 million in 2004. www.cegedim-crm.com
